I’ve wondered if the origin of the name was supposed to be “mogul” or “mongol”, and making him yellow didn’t help to be sure (neither did making him a Darkseid knockoff). Still I’m not aware of major complaints about him, especially since he’s usually Roman coded not Asian coded. He enslaved people and runs gladiator rings, it’s not like Ming the Merciless where he’s explicitly a “Yellow Peril” bad guy. I don’t think most people would be bothered by it, he’s shown up in video games and animation without any major blowback.